What big item (>20k) are you saving up for?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Topic Author
miamivice
Posts: 2234
Joined: Tue Jun 11, 2013 11:46 am

What big item (>20k) are you saving up for?

Post by miamivice »

A lot of Bogleheads have considerable taxable accounts. If you are saving up to buy a large purchase (in excess of say $20,000), what might that item be?

Around my neighborhood I see a lot of folks have boats and recreational vehicles. I suspect most are paying monthly on them though. At my megacorp a lot of folks like to do international travel and some of their trips are in excess of $20,000.

(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
User avatar
whodidntante
Posts: 9087
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: What big item (>20k) are you saving up for?

Post by whodidntante »

I don't believe in buckets. I have money and I spend money. I take low interest loans sometimes. I try to avoid that I spend so much that I don't accumulate more money. So far it seems to be working.
RRAAYY3
Posts: 926
Joined: Thu Jan 17, 2013 12:32 pm

Re: What big item (>20k) are you saving up for?

Post by RRAAYY3 »

A new car

Then Index Funds

Travel mixed in.

I’m pretty simple.
The Wizard
Posts: 13356
Joined: Tue Mar 23, 2010 1:45 pm
Location: Reading, MA

Re: What big item (>20k) are you saving up for?

Post by The Wizard »

I need to buy a new Mustang before long.
My present one is a 2008 bought new, but with 100k on the odometer.
So I'm putting funds aside...
Attempted new signature...
retire57
Posts: 609
Joined: Fri Oct 28, 2016 3:03 pm

Re: What big item (>20k) are you saving up for?

Post by retire57 »

Two cruises to Hawaii and Alaska.
Conch55
Posts: 344
Joined: Tue Mar 01, 2016 11:03 am

Re: What big item (>20k) are you saving up for?

Post by Conch55 »

College educations and weddings for two kids were the biggest expenses we saved for. Both exceeded 20k.
gouverneur
Posts: 94
Joined: Sat Apr 23, 2016 10:25 am

Re: What big item (>20k) are you saving up for?

Post by gouverneur »

Patek Philippe for sure ...

Just kidding. I do love mechanical watches but right now not saving much for anything. Do like to travel a fair amount, but don’t blow anywhere close to 20k on any one trip (maybe over two or three years of 7-10 trips a year, mostly weekend jaunts).
Lonestarz
Posts: 97
Joined: Sat Oct 14, 2017 8:40 pm

Re: What big item (>20k) are you saving up for?

Post by Lonestarz »

whodidntante wrote: Mon Feb 12, 2018 6:57 pm I don't believe in buckets. I have money and I spend money. I take low interest loans sometimes. I try to avoid that I spend so much that I don't accumulate more money. So far it seems to be working.
So if you want to get a new car or other large purchase you don’t cut expenses or save rates towards that goal in any conscious way?
athan
Posts: 241
Joined: Fri Nov 13, 2015 4:33 pm

Re: What big item (>20k) are you saving up for?

Post by athan »

Patio out back.
runner3081
Posts: 3558
Joined: Mon Aug 22, 2016 3:22 pm

Re: What big item (>20k) are you saving up for?

Post by runner3081 »

Paying off the mortgage.

Cars, roofs and all other items fall well short of 20K.
darrvao777
Posts: 285
Joined: Wed Sep 10, 2014 1:34 pm

Re: What big item (>20k) are you saving up for?

Post by darrvao777 »

- Tax bill (should hopefully be less than 20K this year)

- Luxury SUV (6 digits)

- Mortgage Payoff (90K)

Although I save it in cash, not my taxable account
User avatar
whodidntante
Posts: 9087
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: What big item (>20k) are you saving up for?

Post by whodidntante »

Lonestarz wrote: Mon Feb 12, 2018 7:29 pm
whodidntante wrote: Mon Feb 12, 2018 6:57 pm I don't believe in buckets. I have money and I spend money. I take low interest loans sometimes. I try to avoid that I spend so much that I don't accumulate more money. So far it seems to be working.
So if you want to get a new car or other large purchase you don’t cut expenses or save rates towards that goal in any conscious way?
No, I don't. Why would I need a special car bucket? I have money for a car, or I can take a low interest loan for a car. And I also don't cut expenses in anticipation of buying a car. If I'm somehow wasting money, I cut that anyway. My expenses are not a car issue.
CppCoder
Posts: 920
Joined: Sat Jan 23, 2016 9:16 pm

Re: What big item (>20k) are you saving up for?

Post by CppCoder »

Early retirement...
User avatar
Alexa9
Posts: 1872
Joined: Tue Aug 30, 2016 9:41 am

Re: What big item (>20k) are you saving up for?

Post by Alexa9 »

Don't give me any ideas!
My goal is to spend as little as possible and get rid of most of the junk I've got! :mrgreen:
User avatar
corn18
Posts: 1770
Joined: Fri May 22, 2015 6:24 am

Re: What big item (>20k) are you saving up for?

Post by corn18 »

gouverneur wrote: Mon Feb 12, 2018 7:28 pm Patek Philippe for sure ...

Just kidding. I do love mechanical watches but right now not saving much for anything. Do like to travel a fair amount, but don’t blow anywhere close to 20k on any one trip (maybe over two or three years of 7-10 trips a year, mostly weekend jaunts).
Not saving up for it, but I am trying hard not to pull the trigger on this one:

Image
Don't do something, just stand there!
stoptothink
Posts: 8287
Joined: Fri Dec 31, 2010 9:53 am

Re: What big item (>20k) are you saving up for?

Post by stoptothink »

runner3081 wrote: Mon Feb 12, 2018 7:35 pm Paying off the mortgage.
+1. We are on currently track to pay off our mortgage in 5 more years (7yrs total), but that is likely to be sped up soon with our children aging out of daycare and my wife finishing up school. My wife would really like to ultimately build a custom home, I would really like to never have a mortgage again. Once the current house is paid off, we'll start funding a taxable account which will be earmarked towards buying that home she wants... in cash, likely in another 10 years or so.
DrGoogle2017
Posts: 2528
Joined: Mon Aug 14, 2017 12:31 pm

Re: What big item (>20k) are you saving up for?

Post by DrGoogle2017 »

While I’m not saving for this but if I have $20k dropped from sky, I wouldn’t hesitate to buy a very good necklace of white South Sea Pearls from Australia. The good kind, natural made, not like the ones from the Philippines.
User avatar
SmileyFace
Posts: 5673
Joined: Wed Feb 19, 2014 10:11 am

Re: What big item (>20k) are you saving up for?

Post by SmileyFace »

Retirement.
Strayshot
Posts: 647
Joined: Thu Mar 05, 2015 8:04 am
Location: New Mexico

Re: What big item (>20k) are you saving up for?

Post by Strayshot »

Renting a carribean island for a week for 30 friends/family :sharebeer
gator15
Posts: 457
Joined: Sun Mar 18, 2012 8:33 pm

Re: What big item (>20k) are you saving up for?

Post by gator15 »

bathroom remodel
User avatar
SmileyFace
Posts: 5673
Joined: Wed Feb 19, 2014 10:11 am

Re: What big item (>20k) are you saving up for?

Post by SmileyFace »

gator15 wrote: Mon Feb 12, 2018 9:42 pm bathroom remodel
>$20K will get you a very nice bathroom :beer
arsenalfan
Posts: 895
Joined: Mon Dec 09, 2013 12:26 am

Re: What big item (>20k) are you saving up for?

Post by arsenalfan »

Rental properties
JimmyfromSunPrairie
Posts: 23
Joined: Tue May 31, 2011 9:45 pm

Re: What big item (>20k) are you saving up for?

Post by JimmyfromSunPrairie »

-Health insurance premiums

-Property tax bills

Been saving all my working years for these two
jharkin
Posts: 2596
Joined: Mon Mar 28, 2016 7:14 am
Location: Boston suburbs

Re: What big item (>20k) are you saving up for?

Post by jharkin »

miamivice wrote: Mon Feb 12, 2018 6:50 pm (Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
Rather than just follow the heard, what are YOUR interest's? If you cant think of anything to spend it on , maybe you dont need to spend it..... Not a bad problem to have, and remember that a lot of those folks you see with the RVs and extravagant travel maybe doing so at the expense of tax deferred to maintain the lifestyle.

You might find out that your neighbor is saving up to build an RV-7 - that doesn't really help you if your not a licensed private pilot. Buying the same bass boat as your other neighbor would be a waste if you hate fish.

FWIW I am saving in taxable to put toward a down payment and move expenses on a larger home. That doesn't help you either if you dont have plans to move....
Last edited by jharkin on Tue Feb 13, 2018 7:14 am, edited 1 time in total.
User avatar
Toons
Posts: 13791
Joined: Fri Nov 21, 2008 10:20 am
Location: Hills of Tennessee

Re: What big item (>20k) are you saving up for?

Post by Toons »

Can't think of anything at the moment related to finances.
Material "Wants" have been satisfied.








:mrgreen:
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Jack FFR1846
Posts: 12629
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: What big item (>20k) are you saving up for?

Post by Jack FFR1846 »

Tuition for school for learning disabled son.
Tuition for college for other son.

Do I win?
Bogle: Smart Beta is stupid
User avatar
StevieG72
Posts: 1141
Joined: Wed Feb 05, 2014 9:00 pm

Re: What big item (>20k) are you saving up for?

Post by StevieG72 »

CppCoder wrote: Mon Feb 12, 2018 7:55 pm Early retirement...
+1

You beat me to it...
Fools think their own way is right, but the wise listen to others.
User avatar
welderwannabe
Posts: 1220
Joined: Fri Jun 16, 2017 8:32 am

Re: What big item (>20k) are you saving up for?

Post by welderwannabe »

We paid off the mortgage earlier this year.
Next big ticket item is a new car for the wife. Need to save up for a few more months.
I am not an investment professional, but I did stay at a Holiday Inn Express last night.
MrNewEngland
Posts: 807
Joined: Sun Sep 28, 2014 11:38 am

Re: What big item (>20k) are you saving up for?

Post by MrNewEngland »

$20K is a LOT of money. It's more than I'd spend on a watch or even a trip... I'm considering remodeling the bathroom in my condo but I am hoping to come in well under that.

When my lease is up I am considering buying a new GMC Canyon that stickers for about $21K but I will finance most of it. Does that count?
LiterallyIronic
Posts: 1463
Joined: Sat Dec 05, 2015 10:36 am

Re: What big item (>20k) are you saving up for?

Post by LiterallyIronic »

A DeLorean. They are currently going for low $30,000. It's one of my three financial goals in life: 1) Retire at 50; 2) Pay off mortgage at 50; 3) Own DeLorean.
ddurrett896
Posts: 1357
Joined: Wed Nov 05, 2014 3:23 pm

Re: What big item (>20k) are you saving up for?

Post by ddurrett896 »

1,000sqft garage addition.
Jack FFR1846
Posts: 12629
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: What big item (>20k) are you saving up for?

Post by Jack FFR1846 »

LiterallyIronic wrote: Tue Feb 13, 2018 9:57 am A DeLorean. They are currently going for low $30,000. It's one of my three financial goals in life: 1) Retire at 50; 2) Pay off mortgage at 50; 3) Own DeLorean.
Set aside a bit more for the flux capacitor. You'll be able to then go back and make the best financial decisions ever, so $30k becomes a "who cares?", right?
Bogle: Smart Beta is stupid
H-Town
Posts: 2868
Joined: Sun Feb 26, 2017 2:08 pm

Re: What big item (>20k) are you saving up for?

Post by H-Town »

miamivice wrote: Mon Feb 12, 2018 6:50 pm A lot of Bogleheads have considerable taxable accounts. If you are saving up to buy a large purchase (in excess of say $20,000), what might that item be?

Around my neighborhood I see a lot of folks have boats and recreational vehicles. I suspect most are paying monthly on them though. At my megacorp a lot of folks like to do international travel and some of their trips are in excess of $20,000.

(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
McMansion. :mrgreen:
barnaclebob
Posts: 4210
Joined: Thu Aug 09, 2012 10:54 am

Re: What big item (>20k) are you saving up for?

Post by barnaclebob »

Only thing over 20k that I'm saving up for is the replacement fund for my newer car which hopefully wont need replacing for another 5-10 years. The older car is already saved up for and I've got the cash on hand for the earthquake retrofit that my new to me house will need.
macman_65
Posts: 53
Joined: Fri Jun 16, 2017 8:27 am

Re: What big item (>20k) are you saving up for?

Post by macman_65 »

The Wizard wrote: Mon Feb 12, 2018 7:24 pm I need to buy a new Mustang before long.
My present one is a 2008 bought new, but with 100k on the odometer.
So I'm putting funds aside...
Me too ... I'm looking at hopefully 4/5 years out.
My 2014 Mustang has about 66K miles - averaging 15K/year will give me about 120K.

Slightly more immediate:
Daughter's wedding in May and a 2nd daughter that will start college in 3 years.
Tal-
Posts: 494
Joined: Fri Apr 22, 2016 10:41 pm

Re: What big item (>20k) are you saving up for?

Post by Tal- »

Lots of investing goals that are <$20K, but I think you're asking about purchases... So:

New roof (25k) with solar (15k).
Debt is to personal finance as a knife is to cooking.
User avatar
mhc
Posts: 4181
Joined: Mon Apr 04, 2011 10:18 pm
Location: NoCo

Re: What big item (>20k) are you saving up for?

Post by mhc »

I just got my annual bonus. I'll set aside $20k for our summer vacation.
UpperNwGuy
Posts: 4091
Joined: Sun Oct 08, 2017 7:16 pm

Re: What big item (>20k) are you saving up for?

Post by UpperNwGuy »

My next car.

Edit: This is what I am saving for, not what I am investing for.
Last edited by UpperNwGuy on Thu Feb 15, 2018 9:00 pm, edited 1 time in total.
JimmyD
Posts: 863
Joined: Fri Sep 27, 2013 4:03 pm

Re: What big item (>20k) are you saving up for?

Post by JimmyD »

Nada, thank goodness. Just trying to squeeze $11,000 out of monthly cash flow to do a couple backdoor roths.
User avatar
lthenderson
Posts: 5202
Joined: Tue Feb 21, 2012 12:43 pm
Location: Iowa

Re: What big item (>20k) are you saving up for?

Post by lthenderson »

miamivice wrote: Mon Feb 12, 2018 6:50 pm(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
I would suggest that this line or reasoning is not a healthy way to think about money, i.e. dreaming up ways to spend money sitting in an account. A more healthy way would be to just spend money on your needs. If someday you need something that costs more than $20k, you will most likely already have that money saved up like whodiddn'tante's strategy.
Texanbybirth
Posts: 1385
Joined: Tue Apr 14, 2015 12:07 pm

Re: What big item (>20k) are you saving up for?

Post by Texanbybirth »

Pilgrimage to the Holy Land for my wife and I, with possible extension in Jordan. And plane tickets for grandma and grandpa to come stay with the kiddos!

ETA: not gonna happen because we wouldn't leave our little ones for that long, so instead we're saving up assuming it will probably cost >$20k with inflation by the time we're able to actually GO on the trip. :D [It's all a pipe dream right now anyway, but they say even planning a vacation is mentally beneficial.]
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
CascadiaSoonish
Posts: 283
Joined: Tue Feb 13, 2018 11:44 am

Re: What big item (>20k) are you saving up for?

Post by CascadiaSoonish »

Ducati, vacation cabin. Though I'm unlikely to pull the trigger any time soon until I feel very comfortable with investment advances otherwise. Also considering buying a commercial real estate property for the business.

(Amused that my first post here is about spending money on luxury goods)
HongKonger
Posts: 1079
Joined: Tue Jun 21, 2011 10:35 am
Location: Deep in the Balkans

Re: What big item (>20k) are you saving up for?

Post by HongKonger »

A fair sized home extension with a sexy glass box/courtyard affair linking it to my house. It cost the amount of money my portfolio just dropped by. Bugger.
FootballFan5548
Posts: 255
Joined: Mon May 01, 2017 2:20 pm

Re: What big item (>20k) are you saving up for?

Post by FootballFan5548 »

athan wrote: Mon Feb 12, 2018 7:30 pm Patio out back.
I'm doing the same... I have finished my last round of proposals and will pick between two contractors in the next few days. I'm budgeting about $30k total for new patio, firepit, some new landscaping, new grading, tree removal, etc.
bargainhuntingking
Posts: 217
Joined: Wed May 14, 2008 3:48 am

Re: What big item (>20k) are you saving up for?

Post by bargainhuntingking »

Early retirement
User avatar
Sandtrap
Posts: 11737
Joined: Sat Nov 26, 2016 6:32 pm
Location: Hawaii No Ka Oi , N. Arizona

Re: What big item (>20k) are you saving up for?

Post by Sandtrap »

Overseas travel, Southeast Asia, China, Etc. (like "midaref")

Roadtrek RV. . . or Travato. . (like "Toons")

House in Kamuela on the Big Island of Hawaii.

Golf Course townhouse in the Troon Development in Upper Scottsdale.


University of "Bogleheads" for degree in "Retirement Lifestyle".

mahalo,
j :D
Wiki Bogleheads Wiki: Everything You Need to Know
tacster
Posts: 269
Joined: Sat Apr 09, 2011 11:08 am
Location: Limbo.

Re: What big item (>20k) are you saving up for?

Post by tacster »

New Porsche. Retirement, house, and everything else I need/want is already covered.
INSERT PITHY QUOTE HERE
alfaspider
Posts: 3030
Joined: Wed Sep 09, 2015 4:44 pm

Re: What big item (>20k) are you saving up for?

Post by alfaspider »

My taxable account is primarily saving for a downpayment for our next house. The plan is to minimize the amount we need to borrow, especially in light of the new tax rules and likely higher interest rates when we are ready to buy in a few years.
User avatar
pennstater2005
Posts: 2487
Joined: Wed Apr 11, 2012 8:50 pm

Re: What big item (>20k) are you saving up for?

Post by pennstater2005 »

Roof, bathroom remodel.
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
forgeblast
Posts: 386
Joined: Fri Oct 13, 2017 8:45 am
Location: PA
Contact:

Re: What big item (>20k) are you saving up for?

Post by forgeblast »

Just finishing up a kitchen remodel that also included a few new doors/windows and some flooring, so the big thing I am saving for is a large barn. Looking at a 40x50 or larger. Hoping to cut most of the wood myself to save on the cost(have a bandsaw mill).
So if I had someone else build it it would be 20k+ but I am hoping to lower the cost significantly.
Post Reply